Replication data for: Learning to Coordinate: A Study in Retail Gasoline

Principal Investigator(s): View help for Principal Investigator(s) David P. Byrne; Nicolas de Roos

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data			10/12/2019 07:00:AM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 03:00:AM

Project Citation:

Byrne, David P., and de Roos, Nicolas. Replication data for: Learning to Coordinate: A Study in Retail Gasoline. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113176V1

Project Description

Summary: This paper studies equilibrium selection in the retail gasoline industry. We exploit a unique dataset that contains the universe of station-level prices for an urban market for 15 years, and that encompasses a coordinated equilibrium transition mid-sample. We uncover a gradual, three-year equilibrium transition, whereby dominant firms use price leadership and price experiments to create focal points that coordinate market prices, soften price competition, and enhance retail margins. Our results inform the theory of collusion, with particular relevance to the initiation of collusion and equilibrium selection. We also highlight new insights into merger policy and collusion detection strategies.

Scope of Project

JEL Classification:
      G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
      L12 Monopoly; Monopolization Strategies
      L13 Oligopoly and Other Imperfect Markets
      L71 Mining, Extraction, and Refining: Hydrocarbon Fuels
      L81 Retail and Wholesale Trade; e-Commerce
      Q35 Hydrocarbon Resources

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Published Versions

V1 [2019-10-12]

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DDI 2.5

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